Wire wrapping tools are well known in the art and are commonly used nowadays for the making of connections to terminals on a printed circuit board (PCB). See, for example, U.S. Pat. Nos. 4,177,555 and 4,194,700, whose contents are herein incorporated by reference, as examples of such tools. The wrapping tool wraps the wire around a sharp-cornered terminal which crushes any oxide layer between the terminal and wire and providing a tightly-held oxide-free metal-to-metal contact of the wire to the terminal. The typical tool is a wire-wrapping gun containing what is known as a removable bit and sleeve. The latter is typically fixed, and the bit rotates, usually clockwise (CW), within the sleeve. Wire from a spool, for example, is fed through the sleeve to the bit face. The bit has a bore for receiving the terminal, and when the bit is rotated around the terminal, structure on the bit face grabs the wire and wraps it around the terminal. The bit and sleeve are replaceably held on the tool by a front-facing collet which when tightened holds the sleeve within the tool. The bit is held in place within the sleeve by a shoulder on the bit. Replacement of the bit and sleeve is accomplished by loosening of the collet to release the bit and sleeve so it can be removed and replaced. Reasons for replacing include wrapping on a different size of terminal.
Tools also exist for unwrapping a wrapped wire from a terminal. A typical tool has a spiral groove cut into the end of an unwrap bit. When the unwrap bit is rotated counterclockwise (CCW) on the terminal, the bit face grabs the end of the wire and feeds it into the spiral groove allowing it to be unwrapped from the terminal. See U.S. Pat. No. 4,064,581, whose contents are herein incorporated by reference, which describes a hand tool having a wrapping bit at one end and an unwrapping bit at the opposite end. Using a gun-type power tool for wrapping and unwrapping requires that a first bit and sleeve is used for wrapping, and to unwrap the first bit and sleeve must be removed and replaced by an unwrap bit and sleeve that acts as a bushing for the bit, and the power tool must be capable of both CW and CCW operation.